The Nigerian government has been urged to involve members of the Nigerian Institution of Estate Surveyors and Valuers in developing the creative industry. Dr. Thomas Ashaolu, a Chief Lecturer and former Head of Estate Management and Valuation at the Federal Polytechnic, Ilaro, emphasized the critical role of trained valuers in managing economic and financial aspects, particularly in intellectual property valuation.

Reacting to the Federal Government’s recent approval of a Creative Economy Fund, Akinwunmi, Chairman of the Faculty of Business Assets and Intellectual Property Valuation, highlighted the $200 million backing from AfreximBank. He commended President Bola Tinubu and Minister Hannatu Musawa for their efforts, stating that the fund presents a timely opportunity to support Nigeria’s creative industry.

“We appreciate this initiative, but it is essential to involve trained and registered valuers to ensure the fund’s success. This sector must not become politicized or influenced by ethnicity,” Akinwunmi stressed. He further encouraged extensive consultations with stakeholders to maximize the potential of this fund.

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Dr. Ashaolu also praised the fund, noting its potential to curb youth unemployment by offering productive opportunities. He called for streamlined communication between the government and professional associations in the creative sector, ensuring proper coordination and efficient management of the initiative.

“Trained valuers specializing in intellectual property assets are pivotal to this project. While we have traditionally focused on property valuation, there is an emerging market for intangible asset valuation, both domestically and internationally. We need continuous skill development and targeted training to bridge gaps and unlock the sector’s potential,” Ashaolu added.

The Creative Economy Fund aims to pool resources for the creative sector, offering vast opportunities to Nigerian youths and driving innovation. Experts believe that leveraging the expertise of estate valuers will ensure its efficient implementation and long-term impact.